Telematics car insurance, also often referred to as black box cover, has been around for many years. It was initially targeted towards the younger motorist who tends to pay considerably more for their car insurance than the more experienced driver.
As you may be aware, a black box is fitted to the car dashboard and this monitors certain aspects of how the car is being driven. For instance, it knows when the vehicle is being driven, where the car is driving and the speed it is travelling at. The cost of the cover takes into account the usual factors such as the make and model of car, the driver’s experience and where the car is kept overnight but also takes into consideration the data collected by the black box. The premium may be reviewed periodically and is a more individual calculation for each motorist.
There are an increasing number of car insurers offering telematics cover and it is also available to older drivers. However, how aware are older motorists about the savings that they could make by switching to telematics cover?
Well, a survey that was requested by Redtail Telematics and completed by YouGov has provided some interesting statistics in respect of the above. The survey was undertaken with 1,500 drivers here in the UK and revealed that a surprising 43% of them were not aware of any saving that he or she could potentially make by moving their existing normal car insurance to telematics cover. It was also interesting that 10% of those taking part in the survey were of the opinion that they could not make any saving and 14% felt they could make a saving of anything up to 10%.
If your car insurance is coming up for renewal or you are looking for cover for the first time then you may wish to obtain a telematics car insurance quotation as well as a quotation for standard cover to compare the two. Who knows, you may be able to save some money that in today’s economic climate is something to be welcomed.